Do NOT invest in rental property.

**danrclem** · 04-04-2009, 03:41 PM

I feel for you. I hate lowlife parasites.

How well did you check them out before you rented? I'm asking because I thought this might be a good time to invest in rental property since homes have depreciated.

**Dadatwins** · 04-04-2009, 03:48 PM

Sorry for your damage, only advice I can offer is to keep track of every nickel it takes to get it back into shape and claim it as loss on next tax season. I was burned once for almost a 1/2 years worth of rent on a condo I had in NY, place fortunatly was not damaged but the guy never paid and it cost me mint in lawyer fees to get him out there. Was able to recoup the loss at the end of the year, but it was he!! while it went on. Felt like taking batting practice with no ball a few times myself but refrained. Better luck on the next tenant.

**Dadatwins** · 04-04-2009, 04:03 PM

Originally Posted by danrclem

I feel for you. I hate lowlife parasites.

How well did you check them out before you rented? I'm asking because I thought this might be a good time to invest in rental property since homes have depreciated.

Location, location, location are the three rules of real estate investment. Also buying at a price that is equal or below appraised value, my county website has all real estate apprasials online listed for all addresses in the county. Research is big part of the process. DO NOT rely on real estate agent to give you accurate info, they are in the business of selling houses not investment. As for checking prospectives there are several web sites that offer credit referals and backround checks on prospective tenants. You will pay for the service but worth it. DO NOT use phone reference of previous landlords. If I had a crappy tenant and recieved a call about the person moving somewhere else I would make the person seem like John the Baptist to get them out of my place, this is the nature of the industry. I have been lucky so far but very, very careful.

**Jacob J.** · 04-04-2009, 04:25 PM

Originally Posted by stihl sawing

Yep, i did and am going after the scumbags. I would really like to handle it another way though but i would end up in jail.

At least get a judgment against them that will follow them around forever. That way future landlords will know what's going on when they run a credit check on these scumbags. We did that with one of my mom's renters and they finally paid it off after twenty years because they got tired of being turned down for rentals, jobs, etc.

**lfnh** · 04-04-2009, 04:31 PM

Boy, I am sorry to see the damage. Can't understand the lack of respect people have for someone else's hardwork.

Come on back tonight. Lot of us can't go very long without your hillarious pics on the Willis Channel. LOL!.

I'm planning on tuning in:

**stevejr33** · 04-04-2009, 04:46 PM

Originally Posted by Jacob J.

At least get a judgment against them that will follow them around forever. That way future landlords will know what's going on when they run a credit check on these scumbags. We did that with one of my mom's renters and they finally paid it off after twenty years because they got tired of being turned down for rentals, jobs, etc.

**stevejr33** · 04-04-2009, 04:47 PM

Originally Posted by Jacob J.

At least get a judgment against them that will follow them around forever. That way future landlords will know what's going on when they run a credit check on these scumbags. We did that with one of my mom's renters and they finally paid it off after twenty years because they got tired of being turned down for rentals, jobs, etc.

dose not make it better but makes there life more difficult.

**stihl sawing** · 04-04-2009, 07:06 PM

Well i have a belly full of fish and too full to be mad.lol Will have to go back tommorrow and replace the front door so i can take my tools there to work in it. Not gonna take nothing in there to stay untill it can be locked.

**stihl sawing** · 04-04-2009, 07:07 PM

Originally Posted by danrclem

I feel for you. I hate lowlife parasites.

How well did you check them out before you rented? I'm asking because I thought this might be a good time to invest in rental property since homes have depreciated.

I run a check on all of them but you never know what your gonna get. Looks can be deceiving.

**spacemule** · 04-04-2009, 09:10 PM

Originally Posted by stihl sawing

I run a check on all of them but you never know what your gonna get. Looks can be deceiving.

I would think you'd have a good chance at avoiding this by getting references from the prospective tenants' former landlords. If the former landlord got along with them, it's unlikely they're going to trash a place.

**Dadatwins** · 04-05-2009, 04:49 AM

Originally Posted by spacemule

I would think you'd have a good chance at avoiding this by getting references from the prospective tenants' former landlords. If the former landlord got along with them, it's unlikely they're going to trash a place.

Bad plan in my opinion. This from a landlord /tenant lawyer that I probably bought a new car for in fees years ago.

Most landlords that have crappy tenant that find out is thinking of going somewhere else will make that tenant seem perfect to get rid of the problem. Not very honorable but it is part of the game. Even calling personal references is usually a waste of time. Better idea is to pay for credit checks & employment checks. JMHO

**whiting-5** · 04-05-2009, 06:00 AM

thats just part of the game! wait to you get one were they took every cabinet,plumbing fixture,elec, fixture,do nice murals on the walls plug up the toilet and use the bathtub.

or our all time favorite sand bag all the doors on the inside leave a hose running through a window.now thats a mess!!! i will replace doors and drywall anyday. we were in the forclosure biz for few years before the market tanked i think ive seen it all but then we bought another house..

**ropensaddle** · 04-05-2009, 06:06 AM

Originally Posted by stihl sawing

Nope not even close on covering the damage, I just gotta calm down some and get them in court. But even doing that i won't get nothing from them. As the old saying goes "you can't get blood out of a turnip"

Have them file attach a lien on their tax return lol.

**BIG JAKE** · 04-05-2009, 06:43 AM

I have a rental house by the university. Been renting since 91. So far no issues worth mentioning. I take applications over several weeks and make my best judgement. Also I've made it a policy to never piss off a renter and I treat 'em with respect, even when I get a little ticked. I try to work with them too if they're late on rent once in a while I cut em some slack. This may not be the sole reason for my success as most of my renters are young adults in school trying to get some where. Not the same story renting a house on the other side of town where you're renter is renting for a reason and often not a good one like credit issues. I'm actually considering demo'ing the place and putting in an apartment complex, as I'm getting older and want to slow down.
Good judgement and credit checks should save you from most issues also check public record for civil and criminal cases against prospectives-if all this is clean and you don't piss them off you should do okay along with a well written lease.